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Credit Suisse Says
Earnings at CSFB
Must Get Better

By

Edward Taylor and

Katharina BartStaff Reporters of THE WALL STREET JOURNAL

Updated Aug. 5, 2004 12:01 a.m. ET

ZURICH -- Oswald Gruebel, chief executive of Swiss banking giant Credit Suisse Group AG, pledged to improve profitability as second-quarter profit at its Credit Suisse First Boston investment bank rose from a year earlier, but slid from the first quarter.

Overall, the bank posted net profit of 1.46 billion Swiss francs ($1.14 billion or &euro;946.4 million), or 1.26 francs a share, compared with a year-ago loss of 556 million francs, or 48 centimes a share. The year-ago figure was restated as a loss earlier this year,...